A survey of almost 5,000 mobile banking users found those whomoved accounts from one bank to another in the last year did sobecause of higher fees or poor service.

SNL Financial, the Charlottesville, Virginia, financial servicedata and consultancy firm surveyed the nearly 5,000 mobile bankingusers in February 2015 and found that 10% of them reported havingmoved their accounts from one financial service firm to another inthe past year.

When asked why they had done so, 34% of the account-switchingconsumers cited high fees at the previous institution as the reasonand 28% cited poor customer service. Having moved (27%), a bettermobile experience (26%) and incentive offers to switch (25%)rounded out the top five reasons to change.

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